Moisand Fitzgerald Tamayo LLC Has $165,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Moisand Fitzgerald Tamayo LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 23.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 465 shares of the social networking company’s stock after selling 143 shares during the quarter. Moisand Fitzgerald Tamayo LLC’s holdings in Meta Platforms were worth $165,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in Meta Platforms by 137.5% in the second quarter. Renaissance Technologies LLC now owns 4,532,030 shares of the social networking company’s stock valued at $1,300,602,000 after buying an additional 2,623,447 shares during the period. Signify Wealth acquired a new position in Meta Platforms in the fourth quarter valued at $228,000. Investment Research & Advisory Group Inc. lifted its holdings in Meta Platforms by 1.5% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after buying an additional 164 shares during the period. Keel Point LLC lifted its holdings in Meta Platforms by 6.3% in the third quarter. Keel Point LLC now owns 6,690 shares of the social networking company’s stock valued at $2,008,000 after buying an additional 399 shares during the period. Finally, AFT Forsyth & Company Inc. lifted its holdings in Meta Platforms by 5.6% in the third quarter. AFT Forsyth & Company Inc. now owns 4,149 shares of the social networking company’s stock valued at $1,246,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer lifted their price target on shares of Meta Platforms from $385.00 to $525.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. TD Cowen lifted their price target on shares of Meta Platforms from $415.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $405.00 to $527.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Citigroup lifted their price target on shares of Meta Platforms from $440.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Guggenheim boosted their target price on shares of Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $496.35.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $4.74 during trading on Thursday, hitting $489.12. 9,126,516 shares of the company were exchanged, compared to its average volume of 17,803,041. The company has a market cap of $1.25 trillion, a PE ratio of 32.84, a P/E/G ratio of 1.28 and a beta of 1.21. The stock has a 50 day moving average of $464.84 and a 200 day moving average of $375.30. Meta Platforms, Inc. has a 52-week low of $202.54 and a 52-week high of $523.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.00 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.41%. Meta Platforms’s dividend payout ratio (DPR) is currently 13.42%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 1,064 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $351.51, for a total transaction of $374,006.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 1,064 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $351.51, for a total transaction of $374,006.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,504,435 shares of company stock valued at $703,629,367. 13.75% of the stock is currently owned by insiders.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.